1. News
  2. /
  3. Real Estate

St. Pete condo buyer ‘liked the view and he had the cash’

October home sales included one of the priciest condos ever in the Tampa Bay area.
The view looking northeast from the balcony of the penthouse at One St. Petersburg that was flipped for a $1 million profit in October. [MARTHA ASENCIO-RHINE  |  Times]
The view looking northeast from the balcony of the penthouse at One St. Petersburg that was flipped for a $1 million profit in October. [MARTHA ASENCIO-RHINE | Times]
Published Nov. 21

Tampa Bay’s luxury condo market had an unusually strong month in October as an unfinished penthouse in downtown St. Petersburg was flipped for a $1 million profit.

A shrinking supply of available houses, however, took its toll on the market for single-family homes. Sales were essentially flat although prices rose again, according to figures released Thursday by Florida Realtors.

RELATED: You can look down on your neighbors — all of them — from this $4.6 million St. Pete penthouse

The bay area’s top sale of the month was $4.15 million for a penthouse in ONE St. Petersburg, the tallest residential tower on Florida’s West Coast. The sellers, a New York couple, bought the unit for $3,118,400 in March a few months after completion of the building a block from the city’s downtown waterfront.

A "virtual staging'' shows how the living area of the ONE St. Petersburg penthouse might look. [Tony Sica Photography]

One of three penthouses on the 42nd floor, the 3,338-square-foot condo was basically a concrete shell. Realtors Colleen Neelon and Liz Heinkel virtually staged it with contemporary furniture, and it went under contract in just 40 days to M. Patrick Carroll, founder and CEO of an Atlanta-based company that develops multi-family housing.

"Out of the blue, we got a call that he wanted to see it,'' Heinkel said. "He liked the vibe of the building, he liked the view and he had the cash.''

Although Carroll grew up in Tampa, "he really didn’t know anything about St. Petersburg,'' Heinkel added. "He felt it had a young, growing vibe and he wanted the excitement of living downtown.'' (Carroll also owns a waterfront house in South Tampa that he bought for $3.14 million last year, records show.)

Only two other Tampa Bay condos have sold for more than the ONE ST. Petersburg unit. In May, Heinkel was the listing agent on a penthouse in Ovation, also in downtown St. Petersburg, that sold for $6.849 million. Another Ovation penthouse holds the record, $6.9 million in 2016.

RELATED: Downtown St. Petersburg condo tower penthouse sells for a record $6.9 million cash

Of the 10 Pinellas’ residences that sold for $2 million or more in October, six were condos. The October figures show that sales of Pinellas houses, meanwhile, dropped 1 percent year over year while prices rose 5 percent to a median of $272,900.

How single-family home sales fared elsewhere:

Hillsborough — Sales up 3.9 percent, prices up 2.7 percent to a median of $250,895.

Pasco — Sales down 4.2 percent, prices up 6 percent to a median of $228,000.

Hernando — Sales up 5.3 percent, prices up 8.4 percent to a median of $168,000

Hillsborough’s priciest transaction in October was $2.95 million for a waterfront house in Tampa’s Sunset Park. In Pasco County, the top price was $1.1 million for a six-bedroom, six-bath house in Wesley Chapel that has been featured in Southern Living magazine. And in Hernando, a gulf-front home in Hernando Beach sold for $830,000, a high price for that county.

Statewide, sales of single-family homes rose 5.2 percent, while prices climbed 3.6 percent to a median of 5.2 percent.

Nationally, sales of existing homes including condos and townhomes rose 4.6 percent with prices up 6.2 percent to a median of $270,900.


  1. Only three out of 100 U.S. homeowners is in some stage of mortgage deliquency today compared to one in 10 after the 2008 housing crash. [DAVID ZALUBOWSKI  |  AP]
    Nationwide, the mortgage delinquency rate is at the lowest level in 20 years.
  2. A line leads to the Flock and Stock at Sparkman Wharf in Tampa. Soon, local coffee vendor Blind Tiger will take over one of the shipping container booths to serve its local roasts. ["TAILYR IRVINE  | TIMES"  |  Times (2018)]
    This will be Blind Tiger’s sixth Tampa Bay location.
  3. A huge number of homes owned by Baby Boomers will sell in the next 20 years. How will the trend affect the Florida housing market? [CAMERON GILLIE  |  NAPLES DAILY NEWS]
    The enormous generation born between 1946 and 1964 owns about 40 percent of the homes across the country.
  4. Four board members at Horizon House co-op had their locks targeted by a vandal Thanksgiving week. Clearwater police are currently investigating the incident. [Edward Schmoll]
    Four members of the Horizon House HOA board had their front-door locks vandalized during the Thanksgiving holiday.
  5. Developers of a proposed apartment complex near St. Petersburg's Mirror Lake area want to tear down this bungalow and replace it with a ramp to the parking garage. [Susan Taylor Martin]
    The only access would be via a narrow court lined with vintage houses.
  6. Noah Shaffer of Confidant Asset Management says the restaurant sector in the Tampa Bay area has done well in 2019 and to expect more openings in the coming months. Chick-fil-A Brandon South opened earlier this year.
    So far, the economy appears robust enough to support further expansion, says a local industry professional.
  7. A new retail center and health club are proposed for the Epperson neighborhood in Wesley Chapel, home of the Crystal Lagoon. Preliminary plans show the fitness club near the most eastern edge of the lagoon. [SCOTT KEELER  |   Times]
    Ryan Companies proposes grocery, retail stores and health club at neighborhood’s entrance
  8. Renderings of the proposed Red Apple Group project show a 20-story hotel on the west side of the block, and a building of about six stories facing Central with parking, shops and offices. The 45-story condo tower rises at an angle on the east side of the block. [Courtesy of Arquitectonica]
    The $300 million project by Red Apple Group would include a hotel and badly needed parking space.
  9. This single-family home at 913 Pineview Avenue, in Clearwater (Monday, December 2, 2019), has seen foreclosures, flippers, upgrades and a big price swing. The current owners, Keith Lynch and Mallory Lynch, are the seventh owners of the house since 2006 - they moved here from San Francisco. [DOUGLAS R. CLIFFORD  |  TImes]
    A 1950s ranch-style house in Clearwater has had seven owners in 13 years.
  10. The Century Oaks estate in Clearwater [Coldwell Banker Residential Real Estate]
    The main house and guest house have a total of 16 bedrooms and 20 bathrooms.